Spectator on facebook

Spectator on facebook

Economy grows at 6.3 percent in first quarter

THE SLOVAK gross domestic product (GDP) grew by 6.3 percent in real terms over the first quarter of 2006 compared with the same period of the previous year, according to a Statistics Bureau estimate.

On the consumption side, the GDP was influenced by strong foreign demand, which rose by 18 percent from the same period last year, and domestic demand, which was up 8.4 percent.

Monthly nominal wages increased by 7.5 percent to Sk17,223 (Ř455) over the first quarter for a real growth of 3.1 percent, the SITA news agency wrote.

The Statistics Bureau also updated its forecast for Slovakia's economic growth for 2006. According to the new forecast, the economy should grow by 6.2 percent this year. The Bureau also expects that the average inflation rate to be 4.5 percent, while unemployment should be 14.4 percent. The average monthly nominal wage should increase by 7.7 percent to Sk18,600.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Lajčák considers resignation if the migration compact is rejected

The foreign affairs minister also admitted to some disputes with PM Robert Fico.

Foreign Affairs Minister Miroslav Lajčák

How to cope with waste

Slovakia lags behind in recycling and reducing waste, but examples of other countries, particularly the Netherlands, are helping Slovakia implement strategies to reduce waste.

Roughly 67 percent of communal waste ended up at landfills in Slovakia, while only 23 percent was recycled.

The Burning Hell have warmed to Slovakia Video

There is one place in particular that the Canadian musicians have a soft spot for.

The Burning Hell will perform in Bratislava and in Banská Štiavnica.

Automotive industry and e-commerce drive the industrial sector

Western Slovakia with Bratislava remains the strongest locality.

Prologis Park Bratislava